Elon Musk x Twitter: “I love you, neither do I…”
It’s a bit like the soap opera of 2022: the “I love you, me neither” story between the South African billionaire and Twitter. If you missed the start, we’ve made a recap here. Basically, Elon Musk offered to buy the social network for a sum of 44 billion, but he reconsidered his decision, because he thought that the true figures concerning the number of bots and fake accounts were hidden from him. According to him, fake accounts would weigh 20% of the total, but according to Twitter the figure would be closer to 5%.
Bacon or blood sausage?
Faced with Musk’s about-face, Twitter then took action by summoning the whimsical businessman to court. Two independent firms hired by Musk then revealed their rate of false accounts which they estimate between 5.3 and 11%. We don’t know if it was these figures that changed the Tesla boss’s mind or if it was the prospect of a long, expensive and risky lawsuit, but Elon Musk changed his mind again. It would offer the same amount as in April, ie $54.20 per share, whereas at the time of the announcement it was listed at less than $44.
🚨 BREAKING: Elon Musk WILL buy Twitter after all — and is prepared to pay $54.20 a share, Bloomberg News reportshttps://t.co/4IJt7WNV0y
—CoinMarketCap (@CoinMarketCap) October 4, 2022
Yet another twist!
Unexpectedly, Twitter wants to consider the request, but does not wish to stop the legal proceedings. Afraid that Musk will change his mind again? It is possible, but the billionaire would like to sign his proposal with the supervision of the SEC, the American federal body for regulation and control of the financial markets. Twitter is especially afraid that Musk will not find the necessary funds, because even billionaires, he will have to find solid partners to settle the bill. The trial should begin on October 17, but faced with these new twists, the judge gave an ultimatum to both parties: find common ground before October 28…
